Santander's new 8% regular saver?

friolento

https://forums.moneysavingexpert.com/discussion/comment/82078344#Comment_82078344

Not according to the T&Cs. A ‘month’ is calculated by the date that you open your account. For example, if you open the account on the 16th of a month, your month will run from the 16th of one month to the 15th of the next month.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/82078344#Comment_82078344

No. Each month runs from an anniversary of opening the account.

Chaykin

As per previous posters - not allowed in T&Cs but seems to not be enforced. If you like sailing close to the wind and living on the edge (lol 😂) feel free to make the first payment when you open the account (let's say today, 23rd) and then subsequent payments on the 1st of each month. This way you only do something against the T&Cs once - with your first payment on the 1st. Second and subsequent payments on the 1st will not fall foul of the T&Cs. Hope this makes sense.

dcs34

https://forums.moneysavingexpert.com/discussion/comment/82078344#Comment_82078344

Officially, NO, per the account T&Cs - the product runs on statement months rather than calendar months.

Unofficially, YES, per other users' experience with Santander Regular Savers; personally I funded mine at the end of June and then again on 1st July, both payments were recognised, interest rate still shows as 8%, no issues raised so far - but I guess I might only find out later on down the line!

boco803

Thanks for sharing your experiences everyone - appreciate it.